Rupee Suddenly Ends 4-Day Winning Streak Against US Dollar

The Pakistani rupee (PKR) was bearish against the US Dollar today after opening trade at 278 in the interbank market. It was bearish all day and closed in red against the greenback. Meanwhile, it posted losses against most of the other major currencies during today’s session. The interbank rate stayed at 278/$ most of the day before closing at the same level. Open market rates across multiple currency counters were strictly at the 278 level today. The PKR depreciated by 0.07 percent to close at 278.52 after losing 18 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.02 percent. Overall, the rupee is down nearly Rs. 51.62 since January 2023. Since April 2022, it is down Rs. 95.62 against the greenback. As per the exchange rate movements seen during the session, the PKR lost over 18 paisas today. The PKR was red against all of the other major currencies in the interbank market today. It lost 18 paisas against the Canadian Dollar (CAD), 41 paisas against the Australian Dollar (AUD), 76 paisas against the British Pound (GBP), and Rs. 1.2 against the Euro (EUR). Meanwhile, it lost four paisas against the Saudi Riyal (SAR) and five paisas against the UAE Dirham (AED) in today’s interbank currency market.